Industrial Absorbent Market Share Analysis | 2023-28

Industrial Absorbent Market Insights

The industrial absorbent market is estimated to grow from USD 3.48 billion in 2022 to USD 4.67 billion by 2028 at a CAGR of 4.99% during the forecast period. The prime factor that is contributing to the demand for industrial absorbents is mainly the growing sternness of environment-related regulations on chemical and oil spills, which is driving the market.

Market Share Analysis

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By Material Type

Based on the material type, the market is segmented as natural organic, inorganic, and synthetic. The synthetic segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. The quality of results offered by synthetic absorbents is driving the growth of this segment.

 By Product Type

Based on the product type, the industrial absorbent market is segmented as pads, rolls, pillows, granules, booms & socks, sheets & mats, and others. The booms & socks segment is expected to grow with a lucrative CAGR over the forecast period owing to the growing incidences of accidental spills in marine areas.

By Utility Type

Based on the utility type, the market is segmented as universal, oil-only, and HAZMAT/chemical. The HAZMAT/chemical segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Stringent government regulations for hazardous chemical spills in industrial as well as commercial environment is driving the growth of this segment.

By End-Use Industry Type

Based on the end-use industry type, the industrial absorbent market is segmented as oil & gas, chemical, food processing, healthcare, and others. The chemical segment is expected to grow with a promising CAGR over the forecast period owing to rising cases of chemical spillage during transportation.

By Region

In terms of regions, Asia-Pacific is estimated to be the fastest-growing industrial absorbent market during the forecast period, with China, Japan, India, and South Korea being the major countries with promising growth opportunities. The growth of the market is driven by the introduction of various government initiatives to reinforce environmental regulation to spill response. North America and Europe are also anticipated to offer significant growth opportunities over the forecast period.

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Some of the major industrial absorbent manufacturers are-

• Brady Corporation
• Johnson Matthey Plc
• The 3M Company
• Decorus Europe Ltd.
• Kimberly-Clark Professional
• Meltblown Technologies Inc.
• Monarch Green, Inc.
• New Pig Corporation
• Oil-Dri Corporation of America.

Market Scope & Segmentation

Industrial absorbent can be defined as a mixture of materials that are insoluble in nature.  Absorbents are used to absorb liquid by picking up and holding it in a material. This material has the capacity to hold water which causes it to swell. In various industries, such absorbents are used as they are helpful in dealing with chemical as well as oil spills.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The industrial absorbent market is segmented into the following categories. 

Industrial Absorbent Market Size, Share, & Forecast, by Utility Type:

• Universal 
• Oil-only 
• HAZMAT/Chemical 

Industrial Absorbent Market Size, Share, & Forecast, by Material Type:

• Natural Organic 
  • (Material Type Analysis: Cellulose and Corncob)
• Natural Inorganic 
  • (Material Type Analysis: Clay)
• Synthetic 
  • (Material Type Analysis: Polypropylene and Polyester)

Industrial Absorbent Market Size, Share, & Forecast, by Product Type:

• Pads 
• Rolls 
• Pillows 
• Granules 
• Booms & Socks 
• Sheets & Mats 
• Others 

Industrial Absorbent Market Size, Share, & Forecast, by End-Use Industry Type:

• Oil & Gas
  • (End-Use Industry Type Analysis: Upstream, Midstream, and Downstream)
• Chemical 
• Food Processing 
• Healthcare
• Others 

Industrial Absorbent Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the material types by end-use industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.